Archive · 11 Nov 2025
VC Funding Deals: Early Stage Falls, Late Stage Shows Resilience
Imagine people who give money to new companies to help them grow, called venture capitalists or VCs.
In the first nine months of 2025, there were fewer deals where they gave money to very new companies, like those just starting out (called early-stage).
It's like they are being more careful about who they help first.
However, they gave more money to companies that were already a bit bigger and doing well (called growth and late-stage companies).
This means investors are looking more closely at companies that have already proven they can make money and have a clear plan for the future.
They seem to be picking fewer, stronger companies instead of spreading their money around to many new ones.
This change is happening because the world's economy has been a bit uncertain, and investors want to be extra sure their money is well-spent.
Overall venture capital deals with disclosed funding fell by 2% in Q1-Q3 2025 compared to Q1-Q3 2024.
Early-stage VC deals (Seed and Series A) decreased by 3% during the same period.
Growth and late-stage VC deals (Series B and beyond) increased by 4%.
This trend indicates a shift in investor strategy towards established companies with proven metrics.
The recalibration is attributed to investor risk appetite adjustments and global economic uncertainties.
- Who
- GlobalData, an analytics company
- What
- A decline in early-stage venture capital (VC) deals and a rise in growth and late-stage deals.
- When
- First three quarters (Q1-Q3) of 2025 compared to the same period in 2024.
- Where
- Global
- Why
- Investors are recalibrating risk appetite, prioritizing demonstrable metrics, solid fundamentals, and clear paths to profitability, possibly in response to economic uncertainties.
Early-Stage Funding
Growth & Late-Stage Funding
Deal Volume Trend
Early-Stage Funding
Contracted by 3% to 5,871 deals in Q1-Q3 2025 compared to Q1-Q3 2024.
Growth & Late-Stage Funding
Increased by 4% from 1,725 to 1,795 deals in Q1-Q3 2025 compared to Q1-Q3 2024.
Investor Strategy
Early-Stage Funding
Struggling to secure funding, investors are pruning deal flow.
Growth & Late-Stage Funding
Attracting investor interest, demonstrating resilience and a focus on demonstrable metrics and clear paths to profitability.
- Total VC Deals (Q1-Q3 2025)
- 7,666
- Total VC Deals (Q1-Q3 2024)
- 7,807
- Early-Stage Deals (Q1-Q3 2025)
- 5,871
- Growth/Late-Stage Deals (Q1-Q3 2025)
- 1,795
- Overall VC Deal Volume Change (Q1-Q3 2025 vs 2024)
- -2%
- Early-Stage Deal Volume Change (Q1-Q3 2025 vs 2024)
- -3%
- Growth/Late-Stage Deal Volume Change (Q1-Q3 2025 vs 2024)
- +4%